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ErdenesTT announces net profit for the first time www.news.mn
The Erdenes Tavan Tolgoi JSC shareholder's meeting was held on 27 April, during which the financial and work reports for 2017 were presented. The company announced a net profit for the first time in its history; this constituted MNT 461 billion.
In March, Erdenes TT registered Mongolian citizens, born before 2011, who now own its 1072 shares. According to the 2009 Human Development Fund Law, the company distributed its shares to all citizens.
According to plan, the company will trade its 20 percent of its shares internationally. Currently, Erdenes Mongol LLC owns 65 percent of shares of Erdenes TT, 14.5 percent is owned by Mongolian citizens and 0.05 percent by private enterprises.
Erdenes TT will start paying dividends to its shareholders from 2019.
Published Date:2018-04-30
